|
|
|
|
 New Media / Economist (Unlocked): Some of the most valuable commercial real estate for retail is in the Metaverse. Where brands, content, creativity, and consumerism meet, civilization forms. There is a juxtaposition of this virtual community forming as physical gathering spaces are temporarily prohibited or even permanently shuttered. If history has a lesson to share: in the world of network effects, timing is an essential ingredient. The confluence of recent events has accelerated the need for the third place, a social ground separate from the two usual environments: work and home. If Fortnite or Roblox has their way, the mainstream will view their growing communities as that third place. For now, Fortnite, Roblox, and Animal Crossing are considered games and achieving the true vision of the Metaverse is at a distance. But only for now.
Computer-generated realities are already everywhere, not just in obvious places like video games or property websites that offer virtual tours to prospective buyers. They appear behind the scenes in television and film production, simulating detailed worlds for business and training purposes, and teaching autonomous cars how to drive. In sport the line between real and virtual worlds is blurring as graphics are super-imposed on television coverage of sporting events on the one hand, and professional athletes and drivers compete in virtual contests on the other. Virtual worlds have become part of peopleâs lives, whether they realize it or not.
Relevant: Re-read our "Enter The Metaverse" Primer (2PM Members: Unlocked)
 |
|
|
Fashion / New York Times: Last year, the Savage x Fenty show ushered in a new era of lingerie, replacing the airbrushed fantasy of Victoriaâs Secret sexiness with a forceful display of inclusivity. This year, the creative director Rihanna wasnât about to cede control of her new realm: The fall 2020 line was designed pre-pandemic, and the collectionâs show would go on despite it.
In the public eye, Victoriaâs Secretâs decline felt like a plummeting rock. Rihanna's Savage x Fenty label was partly responsible for the accelerated demise. The brandâs loss of relevance was written up and down, with the narrative being that customers were rejecting Victoriaâs Secretâs overly sexy version of lingerie. A womenâs brand engineered by men, the company has been called out in contrast to newcomers like ThirdLove (whose marketing went straight for VSâs jugular) and Rihanna x Fenty, which prioritizes comfort and has tried to establish a new definition of sexiness. It seems as though Rihanna has succeeded.
|
|
|
eCommerce / Business Insider: Shopify has become a lifeline for business owners entering the online space during the pandemic. The company exceeded expectations as its stocks have nearly doubled since January. President and former chief operating officer, Harley Finkelstein attributes much of that success to Shopify's ethos of leveling the playing field for anyone to start a business.
Editor's Note: Now is as good as ever to read our take on Shopify's alignment with the eCommerce boom (though its stock doesn't currently reflect that direct correlation). On Shopify's "Cool Kid" Paradox. The TL;DR is simple: for as great as Shopify is, there's more to "DTC" than one platform.
|
|
|
eCommerce / Vogue Business: This week, Instagram is adding a shopping function to IGTV, its long-form video platform. Viewers can now buy an item tagged in a video using in-app checkout or by going to the sellerâs website. Instagram is also testing shopping via Reels, its answer to TikTok, meaning people will eventually be able to make purchases directly within IGTV, Live, Stories, Reels and Feed. Instagramâs Shop tab will become the appâs shopping hub, with a new tab on main navigation bar that signifies just how important Instagram thinks shopping is to the future success of the app.
In a 2018 report by Deloitte [1], the consulting firm noted that while traditional television has declined for viewers aged 18-24, live video consumption across streaming services and alternative hardware devices stayed relatively stable. In some cases, consumption rose. Television hasnât died, the medium has changed. Generation Z isnât consuming less television. No longer 42âł flat screens, itâs Appleâs 5.8âł screen that has revolutionized content, commerce, and the intersection of the two. (2PM Members)
|
|
|
eCommerce / Bloomberg: Private equity is going all-in on the eCommerce movement following its surge and success over the past few months, paired with the outlook of future momentum. Investments are landing in a variety of places, from supply chain logistics all the way to fintech. Itâs the infrastructure we need, and it has the potential to make a world of difference.
|
|
|
Fashion / Wall Street Journal: Women have rented everyday clothes for years, served by companies like Nully, the Style Lend and most prominently Rent the Runway, which in 2019 notched a billion-dollar valuation. What distinguishes Seasons is that itâs aimed squarely at young men with an active interest in fashion. Seasons carries a cornucopia of splashy garments like tie-dyed Amiri sweatshirts, a python-pattern-printed jacket from Stussy and an ample number of extravagant camp shirts. These are the sort of frenetic clothes that teens and early twenty-somethings flex in when recording TikTok clips or documenting their outfits on Instagram.
Editor's Note: yes.
|
|
|
Additional Reads (if you have the time):
|
|
|
Media / Harvard Business Review: Itâs easy to vilify Facebook, to make this massive entity the scapegoat for all that is negative and destructive about social media. But the issues with social media extend beyond the bounds of a singular service, and are rooted in the structural makeup. In a capitalistic society, the calculus that maps to a social networkâs success, also grants it near-monopoly power.
|
|
|
DTC Brands / Wall Street Journal: Allbirds, the company that has taken a totally different approach in the manufacturing and selling of shoes, is consistent with their theme of unorthodoxy in the way that the company itself is run. The dual-CEO approach is not a widely adopted practice, but an attitude of teamwork and togetherness is working well for them.
|
|
|
Brands / Financial Times: Hamilton and Hare was founded in 2012 by Olivia Francis, a former account director at M&C Saatchi, the advertising agency, who spotted a gap in the market for premium menâs underwear. âI really do think underwear is important,â she told me over coffee, once Iâd put my trousers back on. âAnd it just seemed to have been so overlooked. For women there are beautiful brands and stores, and the process of buying underwear is pleasurable. That just didnât exist for men. So I sat on that for a while,â she continued, no pun intended, âand eventually I was like, âIâm going to do it.ââ
|
|
|
Luxe / Luxury Society: Certainly, the luxury market has faced a difficult year so far. According to research by Bain & Company, luxury could contract between 20 and 35 percent in 2020, depending on the speed of the recovery. And while both parties have suffered due to the effects of COVID-19, Tiffany posted a 36 percent fall in sales in the first half of the year while LVMH said it saw a 27 percent drop in revenues in the same period, the implications of walking away from the deal can be weathered.
|
|
|
Data / Quartz: Pivot tables are the quickest and most powerful way for the average person to analyze large datasets. No coding skills or mathematical brilliance are necessary-just the ability to point and click your mouse. But don't take our word for it. Pivot tables had a superfan in none other than Apple founder Steve Jobs, who immediately saw their genius.
|
|
|
Unlocked Member Brief: It's Exit Time
|
|
|
|
In the nearly 15 years of the direct-to-consumer era of retail, fewer than seven IPOs have been earned, according to industry veteran and fellow firebrand Nate Poulin [1]. With the exception of a small number of digitally-native brand founders whoâve sold in the seven figures of secondary shares, few brand executives have had the resources to reinvest time and money into the industry. Most former brand executives have moved on to take roles at agencies, enterprise brands, or the technical platforms that support them. Unlike other venture-backed categories, the trickle-down of knowledge and resources has failed to impress. The industry has fallen short, and delayed founder liquidity is often to blame. For every Andy Dunn, Katrina Lake, Michael Dubin, or Tristan Walker â there should be dozens more. But to get there, the DTC industrial complex will need to adopt new exit strategies. This is an argument for SPACs as DTC acquisition corporations.
Learn more here
|
|
|
|
|
|
|
|
